Aesthetic Laser Device Market: Opportunity Analysis, 2017–2025
In 2014, Ellman International, Inc. developed the Medle System, a multi-wavelength device that combines IPL (EpiLight) with other wavelengths such as Er: YAG, Q-switched Nd: YAG, and KTP. The device consist of a single console, which offers flexibility to choose specific technologies in a single device for hair removal. According to a study by Lasers in Surgery and Medicine (LSM), as of 2017, plastic surgeons have demonstrated an improvement in surgical scars through super-pulsed fractional CO2 laser, in combination with standard silicone gel treatment. The combination of CO2 laser with silicone gel reduces scars in a single use, after 3 weeks of plastic surgery. Thus, the rapid development of such devices that help meet specific requirements, is expected to propel growth of the aesthetic laser device market during the forecast period.
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However, safety concerns among people regarding aesthetic laser treatment and high cost of treatment are major factors restraining growth of the aesthetic laser device market. For instance, in 2012, according to Information Services Division Legislative Council Secretariat, in Hong Kong, 4 women suffered from septic shock due to intravascular infusions at beauty treatment center. Among four, one woman died due to multiple organ failure, while the others were severely ill. Moreover, in 2014, a woman died after undergoing liposuction procedure in a hair transplant center in Hong Kong. Such incidents creates negative perception through word-of-mouth and severely dampens consumer confidence regarding use of such lasers. This also necessitates the implementation of stringent regulations regarding the same.
The recent past has witnessed a rampant rise in consumer awareness and inclination towards personal aesthetics and maintenance or altering the same. Many aesthetic laser devices and tools such as infrared devices, dermal lasers, radio frequency-based devices, intense pulsed light devices, microdermal abraders, and light emitting diodes (LEDs). The devices are used to address medical as well as cosmetic needs such as body contouring, dermal resurfacing, hair removal, dermal tightening, and reduction of skin pigmentation blemishes, dermal lesions, acne prevention, fat reduction, and age-related vascular dysfunction. Growing adoption of lasers in dermatology is leading to superior results and faster recovery times. Aesthetic laser devices have various applications in cosmetic treatment such as acoustic neuroma, hair removal, and facial rejuvenation, in turn, fueling growth of the aesthetic laser device market.
Increasing beauty concerns among women is expected to fuel growth of the aesthetic laser device market
Increasing demand for plastic surgeries due to increasing beauty concerns among women, is expected to fuel growth of the aesthetic laser device market. For instance, in 2014, according to American Society for Aesthetic Plastic Surgery (ASAPS), laser hair removal treatment was the third most popular non-surgical cosmetic procedure in the U.S. However, the aesthetic laser procedure was recorded to be a more popular laser treatment for women.
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Major players operating in the global aesthetic laser device market include Siemens AG, Ultrashape Ltd., Solta Medical, Inc., XIO Group, Zeltiq Aesthetics, Lutronic, Inc., Cutera Palomar Medical Technologies, Palomar Medical Technologies, Energist Ltd., Cynosure Inc., Photomedex Inc., and Syneron Medical, Ltd.
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